Chancellor Rachel Reeves is under pressure as UK government borrowing costs rise to the highest levels since 1998, potentially undermining Labour's fiscal rules and economic stability. With comparisons to Liz Truss's mini-budget crisis, Reeves could face difficult decisions on public spending cuts or tax increases amid deteriorating market conditions. The upcoming forecasts from the Office for Budget Responsibility on March 26 will be critical in determining the government's fiscal trajectory, as it clashes with political realities within the Labour Party.